Axa, Bought By Many and WPA discussed why new technology alone will not save insurers but changing mind-sets to seize digital opportunities will
There has been a lot of discussion within the insurance community about using various new technologies to seize digital opportunities, but is simply investing in new technologies alone enough to ensure success?
Research suggests that the need for a psychological and culture shift is larger than the need for new technology itself.
Insurance Post and Duck Creek Technologies hosted an interactive live webinar, where an expert panel debated the key areas insurers need to prioritise in order to take full advantage of digital opportunities, whilst remaining competitive and relevant.
Topics covered were:
- How are technology limitations holding back the insurance industry?
- What are some lessons learned from the first round of core systems modernisation?
- What is the step-change in technology upon us?
- Why the need for agility and speed has made it more important for insurers to address heritage system issues such as fatigue to upgrade.
- Why the need for a psychological and culture shift is larger than the need for new technology.
- What are the opportunities that will come from those that get it right?
Joining us for the discussion were:
- Mike Downing, chief technology officer, WPA
- Charlotte Halkett, chief commercial officer, Bought By Many
- Parul Kaul-Green, head of Axa Next Lab, Europe
- Bart Patrick, managing director, Duck Creek Technologies Europe
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